AC201 Principles of Accounting I

for F2T 2012

Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 201 Principles of Accounting I

Semester

F2T 2012 DLE

Faculty

Goss, Craig P.

Title

Senior Instructor

Degrees/Certificates

B. S. B. A. FinanceB. S. Acct. & Mgt.MAcc

Office Hours

As arranged: please email the instructor to set up a time to conference

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.Career Counseling - The Career Development Center (CDC) provides services for all stages of career development. The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.FAQ's for Online Students - You might find the answer to your questions here.

Course Description:AC201 Principles of Accounting I: Introduction to financial accounting, including the concepts, procedures and terminology of modern accounting. Generally accepted accounting principles will be discussed and applied to various business concerns. 3:0:3

Learning Outcomes:Core Learning Outcomes

Record the purchase of assets.

Prepare adjusting journal entries.

Prepare financial statements from an adjusted trial balance.

Prepare closing journal entries.

Write off bad debts of customers.

Compute and record depreciation expense.

Core Assessment:

The final exam for AC 201 will be the assessment tool used for this course. The exam will be comprehensive and the grade used to determine competency levels achieved by the students. The exam will be closed book and closed notes. The exam consist of 10 multiple choice questions covering the chapter readings in the course and five problems that examine the critical thinking, effective communication skills and technical skills of the student. The first problem will address Accounting in Business, Analyzing and Recording Transactions, and Adjusting Accounts and Preparing Financial Statements. The second problem will address Completing the Accounting Cycle, Accounting for Merchandising Operations and Inventories and Cost of Sales. The third problem will address Accounting Information Systems and Cash and Internal Controls. The last two problems address issues of Accounting for Receivables, Plant Assets and Current Liabilities and Payroll Accounting. Partial credit will be given for the problems.

The course assessments include the following: a composite grade from the student’s participation in the weekly class discussion, seven quizzes, three hour exams and the final exam.

Grading: The grade for this course is a composite grade from the student’s participation in the weekly class discussion, seven quizzes, three hour exams and the final exam. The discussion participation is worth twenty one percent of the course grade. A separate rubric has been prepared for determining this grade.

The quizzes consist of four multiple choice questions worth ten points each and one problem worth sixty points for a total of one hundred points for each quiz. All seven quiz grades are averaged and represent ten percent of the course grade.

The hour exams consist of multiple choice questions and three problems. All questions and problems have their assigned values posted on the exam, with each exam totaling one hundred points. The three hour exam grades are averaged and represent thirty nine percent of the course grade.

The final exam consists of multiple choice questions and five problems. The assigned values for each are posted on the exam. The final exam grade represents thirty percent of the course grade.

Students are requested to show all of their work in order to assist the instructor in determining partial credit on the quizzes, hour exams and final exam.

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials: In order for late work to be accepted, permission must be sought in a timely manner and approved by the instructor. An item one week late will receive a 10% late assessment penalty, even if the late request is approved. Any work submitted after one week past the normal due date will not be accepted.

Classroom Rules of Conduct: Please be professional in your dealings with other students. An email warning will be sent to the student if conduct is inappropriate. If further instances occur, then the student will be referred to a Site Coordinator or other Academic Coordinator.

Academic Honesty:Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2011-2012 Undergraduate Catalog Page 95-96

Plagiarism:Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. from Park University 2011-2012 Undergraduate Catalog Page 95

The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.

Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.

In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".

A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.

Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.

Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

ONLINE NOTE: Students must participate in an academically related activity on a weekly basis in order to be marked present in an online class. Examples of academically-related activities include but are not limited to: contributing to an online discussion, completing a quiz or exam, completing an assignment, initiating contact with a faculty member to ask a course related question, or using any of the learning management system tools.

Disability Guidelines:Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Additional Information:

Note on Assignment Submission Process: When the student submits any quiz or exam items for grading the materials are to be submitted using an Excel format only. No other file types will be accepted. This facilitates downloading, uploading and tracking of calculations. These items are to be placed in the respective drop box. No email assignment submissions will be accepted. The course has a drop box function to ensure the permanent record of the student’s work. Emailing does not.

If the student has issues in downloading materials they are to contact the Park University Help Desk for problem resolution, not the instructor. You may inform me of issues, but the instructor can’t solve those issues. It is the responsibility of the student to ensure that their systems are capable.

Additionally, since I respond to the student in a timely manner, the student should check their drop box for returned items to correct and return in a timely manner so that I am able to release the answer keys on designated dates. I generally grade items as they come in. This will assist the instructor and the student in problem resolution, should there be any issues. The Answer Keys are generally released to the student on Wednesday following the due date.

The Sunday cutoff for assignment submission is a hard deadline and only with prior approval will assignments be accepted late. This request must be submitted before the assignment due date, no exceptions. In order to request this, do not post in the course or email me with the request on a late item. The student is to place their request in the appropriate drop box message window for the assignment allocated to the student. That way we have a tracking mechanism and a permanent source document tied directly to its respective assignment.

Assemble the correct and ethical accounting treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
Less than 50%

Analysis of transactional data Outcomes1,2,4,5,6

Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
100-80 %

Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
60-79%

Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
50-59%

Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
Less than 50%

Application of established rules and logic per regulatory and commercial standards Outcomes3

Demonstrate and interpret accounting data and Trial Balance figures in order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
Less than 50%

Content of Communication written essay Outcomes3

Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the production of financial statements
Question 20
100-80 %

Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the production of financial statements
Question 20
60-79%

Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the production of financial statements
Question 20
50-59%

Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the production of financial statements
Question 20
Less than 50%